Tuesday, January 20, 2015

Congratulations to NAPSLO President, Hank Haldeman, on his
inclusion in the Insurance Business
America “Hot 100” list. The list is comprised of 100 of the industry’s top
influencers. Haldeman is also featured as an Industry Icon in the January issue
of Insurance Business America. Check out the full story here to learn more
about how he came to the E&S industry, where he sees it going and why he
loves his work.

In addition to Haldeman, these NAPSLO members are also included
in the Hot 100 List. We’re pleased to work with so many great professionals every
day. Congratulations!

Friday, September 05, 2014

On Wednesday, the Surplus Line Association of Illinois announced the stamping
fee will increase from .1% to .2% for all policies effective January 1, 2015
and thereafter. If an endorsement is issued after January 1, 2015, the stamping
fee should be calculated at the rate in effect at the inception of the policy.
Therefore, for endorsements on policies issued prior to January 1, 2015, the
stamping fee should be calculated at .1% but endorsements on policies issued on
or after January 1, 2015, the fee should be calculated at .2%.

Friday, August 29, 2014

A recent Insurance
Journal article discusses the continued differences between the few states that
participate in tax sharing as part of the Non-Admitted Insurance Multi-State
Agreement (NIMA) versus the majority of states that retain 100% of the surplus
lines taxes collected as the home state. NAPSLO’s recent
analysis illustrating the insignificant financial impact, especially when
compared to the burden and increased costs incurred by brokers and consumers,
was highlighted in the article. NAPSLO remains hopeful that additional data
from NIMA states will be made available for further analysis, but remains confident
additional data will support our initial findings.

NAPSLO continues to believe that the only viable and uniform national
solution for surplus lines premium taxation is the home state approach and that
all states should tax 100% of the surplus lines premium on a policy at their
home state rate and retain 100% of the taxes they collect.